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Welcome /  Blog /  2019-11-doc7 CERIL highlights impact on work of UNCITRAL

2019-11-doc7 CERIL highlights impact on work of UNCITRAL

The Conference on European Restructuring and Insolvency Law (CERIL) is an independent non-profit, non-partisan, self-supporting organisation of persons
committed to the improvement of restructuring and insolvency laws and practices. Recently, after consultation with its conferees, a report was finalised by Nora Wouters (Dentons, Belgium) and professor Stephan Madaus (Halle, Germany) (with support of Ilya Kokorin, Associate CERIL-researcher from Leiden Law School). The Report plus a CERIL statement 2019-3 on a Reply to UNCITRAL's Model Law on Enterprise Group Insolvency has been published on the CERIL website (www.ceril.eu).

CERIL highlights the recent work of UNCITRAL on a Model Law on Enterprise Group Insolveny (MLG). Following a consultation earlier this year on a draft of the MLG – to which CERIL and the European Law Institute (ELI) made a joint contribution – this report analyses the amendments made in the final text, as adopted by UNCITRAL’s Commission in July 2019. In line with recommendations made in the CERIL-ELI Report 2019-1, multiple amendments were incorporated contributing to a more effective functioning of the UNCITRAL Model Law on Enterprise Group Insolvency. The relate to the proper formulation of a group representative, the so-called synthetic proceedings, references to soft law sets with principles for cross-border cooperation and communication, and the appointment of a group representative and available relief. You can find the final statement attached and here:
http://www.ceril.eu/news/ceril-statement-2019-3/

As chair of CERIL I am delighted that our group, with its unique independent perspective, finds time and energy to contribute to long-term improvements in restructuring and insolvency. The full underlaying Report 2019-1 and the Statement 2019-3 are available on CERIL’s website www.ceril.eu. This website also contains information about the organisation of CERIL and its activities. In the meantime, professor Reinout Vriesendorp, secretary of CERIL (info@ceril.eu) welcome the opportunity to further inform you about CERIL or the contents of Report 2019-1 and Statement 2019-3.